Live cattle futures are in rally mode, with contracts up $3.97 to $5.22. Cash trade was mostly $255-258 across the country last week. Feeder cattle futures are rallying $6.07 to $6,40 at midday. The CME Feeder Cattle Index was back down $5.34 on June 12 to $362.67.
The weekly NASS Crop Progress report showed the US pasture rating at 32% gd/ex, up 1% from the week prior. The Brugler500 index was up 2 points to 280.
Wholesale Boxed Beef prices were higher in the Tuesday AM report, with the Chc/Sel spread at $21.92. Choice boxes were up $4.86 to $399.91, while Select was $1.58 higher at $377.99. USDA’s federally inspected cattle slaughter for Monday was estimated at 99,000 head. That is down 3,000 from the previous Monday and 1,782 head below the same week last year.
Jun 26 Live Cattle are at $254.600, up $3.975,
Aug 26 Live Cattle are at $248.475, up $5.225,
Oct 26 Live Cattle are at $241.675, up $4.875,
Aug 26 Feeder Cattle are at $367.625, up $6.075
Sep 26 Feeder Cattle are at $365.650, up $6.125
Oct 26 Feeder Cattle are at $362.500, up $6.400
